Klovern begins tender offer on SEK 1.5 billion bonds due 2020

By Taylor Fox

New York, Oct. 6 – Klovern AB is offering holders of its outstanding SEK 1.5 billion senior floating-rate bonds due Nov. 2, 2020 (ISIN: SE0009241805) to tender any and all of the bonds for purchase for cash at a price of 100.2, plus interest, according to a news release.

The offer will expire at 6 a.m. ET on Oct. 9.

Settlement is expected on Oct. 16.

The repurchase of bonds is conditional upon a successful issue of new green krona-denominated senior bonds.

The offer is being made as part of Klovern’s commitments to exercise active management of its balance sheet, to pro-actively manage its upcoming redemptions and to lengthen and diversify its debt maturity profile.

Bondholders who submits a valid tender instruction will be eligible to receive a priority in the allocation of the new bonds if such order in the new bonds is an integral multiple of the minimum denomination of the new bonds being SEK 1.25 million.

Bondholders tendering the minimum amount of the bonds of SEK 1 million will be eligible to receive priority allocation of the new bonds of SEK 1.25 million.

Danske Bank (+45 3051 5941; dcm_sweden@danskebank.se), Nordea (+45 6161 2996 NordeaLiabilityManagement@nordea.com) and Swedbank (+46 08 700 9022; Syndicate@swedbank.se) are dealer managers and joint bookrunners.

Walthon Advokater AB is legal counsel.

Klovern is a real estate company based in Stockholm.

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